There isn’t anything on the board that comes close to the volatility and scope of
moves, day-in-day-out like WTI Crude Oil … 4% - 8%+ ranges off the notional
price are commonplace, and if you don’t like the crude price now, wait 20 minutes
and check back cuz it could be ± $2+ per barrel up or down from where it was
… one of the key factors in trading any CFD [oil or otherwise] is the
CONSISTENCY OF THE BID / OFFER SPREAD … and on that score, Turnkey
FAILS MISERABLY … COULD BE 2 OR 3 CENTS FOR a day or two, and suddenly
blink your eyes and it’s 7 cents everyday for the next week … doesn’t matter the
ranges, or the VIX, these aren’t “liquidity providers” [LP’s], they are “market
makers” [MM] trading their own book against Turnkey clients for advantage and
profit … why should anybody pay over and above the going rate to trade
anything? … why indeed!
And while the hoax pandemic cratered crude in the Spring of 2020 to negative
values, the situation today is completely different … 1) infrastructure CAPEX
worldwide is down sharply over the last couple of years, thus delaying potential
oncoming supply, 2) “Taliban Joe” in his infinite stupidity has shut down U.S.
production, 3) sanctions against Russia have failed to curb price rises, as China
& India [to name just 2] step up and buy, and 4) China’s attempts to create
“demand destruction” by locking down huge portions of their population so as
to purchase cheap oil, have failed miserably … in other words, oil is tight and
gonna get a Helluva lot tighter.
I’ve said for like forever, that if crude can keep a stable and consistent spread of
3 cents or better, it’s the market to trade, as it beats hands down anything else
out there, even including most days crypto and Bitcoin [BTC] … and of course,
Turnkey highlights the problem, as nobody knows which days the spread is
decent and which are horrible … industry wide, it’s been a huge problem for a
long time … SIMPLE FX has what I consider the best oil CFD … the Mrs. trades
there and loves it … NO KYC, deposit / withdraw in crypto, and trade either on
their proprietary platform or the MT4.
But, here’s the crux of the matter … you better have a “Hoover Dam” good
algorithm to trade it [scalp and/or day trade] or they will carry your account out
“toes up” … the trading algorithm will be available soon, and you can see for
yourself.
Today nothing more than punishment for anybody expecting to trade anything,
and see it move anywhere … a perfect day for bank “scumbaggery & fuckery” if
there ever was one … both EUR & YEN attempting to act like they’re markets
today, but like most days when trading conditions suck and ranges are tight, it’s
simply a bank manipulation scheme … the countdown to FED stupidity has
officially started.
Meanwhile over in crude, mid morning New York sees a $3+ range today
[SIMPLE FX], and once again crude beats to a different drummer than the
“financialized”, cash settled Ponzi schemes where the CNTRL-P machine means
everything … try producing a barrel of crude with the CNTRL-P machine, and let
me know how it goes … London Fix comes and goes, and with it a merciful
closing death for FX and the tiny ranges for today … VIX just pitiful, but not
surprising the day before the Lounge Lizards go full retard … no trades in
anything today.
… outta here … “The future’s so bright I need sunglasses”!! 😎😎
… Onward & Upward!!
-vegas
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